Allied Properties REIT Buys 180 John St For $8.25M
Allied Properties REIT announced this morning it's acquired 180 John St for $8.25M. The property, with 36k SF of GLA, is on the west side of John, just north of Queen Street West, and across from Allied’s 179 John St property. The site is rectangular with more than 8k SF of area and 80 feet of frontage along John. The building was built in 1916 as a paper box manufacturing facility and used as such until 1931. It has also housed various retail, light industrial and office uses. Allied says it plans a redevelopment, with office space above grade and retail at ground level. The deal is expected to close April 15.